Samsung confirms smartwatch plans

Samsung has confirmed that it is indeed working on a new smartwatch device, the Samsung Galaxy Gear.

Lee Young Hee, Samsung's vice president of mobile business, confirmed the rumours during an interview with Bloomberg in Seoul.

"We’ve been preparing the watch product for so long," he revealed. "We are working very hard to get ready for it. We are preparing products for the future, and the watch is definitely one of them."

There were no specific details provided on the form the Samsung smartwatch will take, when it will be launched, or how much it will cost.

Lee did point out that "the issue here is who will first commercialize it so consumers can use it meaningfully," which could suggest a launch some time this year in order to preempt Apple's plans.

Apple Smartwatch RumoursIt's been suggested in recent months that Samsung's biggest rival, Apple, has some 100 designers working on a smartwatch concept. Some believe that the company could launch the result of this effort as soon as this year.

Samsung would hold a certain advantage over Apple in that it manufactures its own chips and displays, which would allow it to pursue a more aggressive price point for any smartwatch device it produces.

This rush towards a new wearable smart device format comes at a time when smartphone growth is widely believed to have peaked.

Would you be interested in a wearable smart device, or are you happy pulling out your smartphone every time you want to check your email? Let us know in the comments section below, or via the Trusted Reviews Twitter and Facebook feeds.